Suppose you maxed out a credit card, then opened another card and used it to pay just the interest on the first card until the second card got maxed out, and repeated that process until all of your monthly income went toward interest payments and nothing else?
That is the inevitable disastrous conclusion of President Barack Obama's irresponsible stance of the national debt.
There is no way to stimulate private sector growth by taxing the private sector and redistributing (investing) the funds to government-picked crony companies. Does Solyndra ring a bell?
These policies will result in the government eventually either seizing all income and assets or printing money.
Either option will make the Great Depression look like a picnic.
There is not a single example in history of a nation taxing itself to prosperity. Only the direct beneficiaries of this theft of our treasury advocate continuing our spending.
- Michael Haluska, Crown Point